The SEC is made up of five commissioners1. Title VII of the Dodd-Frank Act gave the SEC authority to regulate security-based swaps and their registrants.

Swaps that are not security-based are regulated by the Commodity Futures Trading Commission (CFTC). The division of roles between the two agencies is covered in the article "The Roles of the CFTC and SEC".

Notes

  1. 15 U.S.C. § 78d(a). Establishes the SEC and provides for its five commissioners. ↩